Buying and renting property in Australia excites potential expats and tourists who want to spend their holidays in their own cottage.
Content of the material
- Property prices in Australia
- Purchase
- Lease
- Can foreigners buy property in Australia?
- Video: how to buy real estate in Australia profitably
- Obtaining permission to buy real estate
Property prices in Australia
Two major Australian cities – Sydney and Melbourne – are among the five most expensive cities in the world. This also applies to real estate.
The cheapest apartment can be bought in Kabulcher – from 210,000 Australian dollars for two bedrooms and two bathrooms.
The most expensive apartments are located in the center of Sydney and Melbourne.
You can see approximate prices and find suitable real estate on the following websites:
- realestate.com.au;
- domain.com.au.
Purchase
Living space in the center of Sydney costs approximately 20,000-30,000 Australian dollars per sq.m. This is not the limit. The price per square meter can be higher, especially in luxury residential complexes.
Budget options are most often found on the outskirts, where the price per square meter costs about 7,000-9,000 Australian dollars.
The highest housing prices are in Sydney and Melbourne, in other cities they are slightly lower – from $ 5,000 / sq.m.
Lease
Rental prices depend on the location, size, condition of housing, year of construction of the house, presence or absence. Apartments in central Sydney cost about $2,000-6,000 per month.
Renting an apartment on the outskirts is much cheaper – from $1,400 to $3,600 per month.
Usually, visitors choose small studios for rent. Their price is a little lower.
You can rent one apartment for several people. This is how visiting students often live in Australia. It comes out per person from 500 Australian dollars per month.
Can foreigners buy property in Australia?
Foreigners can become owners of real estate in Australia, but there are nuances.
In order to sign a purchase and sale contract, foreigners must obtain permission from the FIRB (Foreign Investment Review Board).
This rule applies to non-residents of Australia who came to the country on a non-immigrant visa.
It is easiest for foreigners to buy an apartment in a new building. A house built on the site of an old one is not considered a new building.
Sometimes the developer already has a certificate that allows him to sell apartments and houses to foreigners. In this case, you do not need to issue an additional purchase permit.
Another real estate option available to foreigners is land. It must be “free”. This means that there were no buildings on it before.
The third option is housing for redevelopment. But a foreigner will be allowed to buy such a property only if he really plans to rebuild the house and increase the housing stock of Australia.
The fourth option is to buy housing from the secondary market for personal use. However, a foreigner cannot rent out such an apartment. And he must be a temporary resident of Australia, that is, have a document allowing continuous stay in the country for 12 months or more.
